Bank Nifty hold on to gann angle,EOD Analysis

By | October 23, 2017 10:25 pm
  • As discussed in Last Analysis  We had a clear plan bearish below 24476 which is our sacred vedic number and has given good trades in last 2 months,  was broken on 18 Oct and we have a big fall on Muhurat day with bank nifty falling and doing our target of 23963 and also moved from 1 gann angle to another one as shown in below chart. Now Bullish   above 24120 for a move towards 24250/24476. Bearish bel0w 23900 for a move towards 23750/23600. Low made was 23912 so bank nifty bears unable to continue the downtrend as 23900 was not broken, Bulls also unable to close 24120, HDFC Bank which was 34% weightage in bank nifty will be declaring results tommrow. As today was time cycle turn date so Bulls will get active above 24151 for a move towards 24250/24476. Bearish below 23900  for a move towards 23750/23600.   Muhurat Trading: Vows Traders should make

  • Bank Nifty Oct Future Open Interest Volume is at 17.1  lakh with liquidation of 2.9 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24098 closed below it.


  • 25000 CE is having highest OI @15.8  Lakh resistance at 24500 followed 25000.24000-26000 CE added 2.1  lakh in OI so bears added good amount of position as bank nifty broke 24476.


  • 24500 PE is having highest OI @13.8 Lakh, strong support at 24000 followed by 23800.24000-26000 PE liquidated 4.2 lakh in OI so bulls ran for cover in lower end of range.


Buy above 24120 Tgt 24170,24255 and 24300 (Bank Nifty Spot Levels)

Sell below 24040 Tgt 23960,23880 and 23720 (Bank Nifty Spot Levels)

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Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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